Kainos Medicine, Inc. (XKON:A220250) announced a private placement of 253,164 shares at KRW 11,850 per share for gross proceeds of KRW 2,999,993,400 on August 21, 2018. The transaction will include participation from new investor DSC Promising Service Sector Fund and DSC Promising Service Sector Fund, funds managed by DSC Investment Inc. The shares will be issued at a premium and will be allotted through third party allotment method. The company is having 13,373,136 shares before increasing capital.

The transaction is expected to close on August 30, 2018. The shares issued in the transaction are subject to a lock up period of one year. The transaction was approved by the board of directors the company.